Occidental Petroleum (NYSE:OXY) Price Target Lowered to $47.00 at JPMorgan Chase & Co.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $52.00 to $47.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 11.24% from the stock's previous close.

• OXY Stock Rebound Begins Following Solid Earnings Beat

Several other research analysts have also issued reports on OXY. Barclays increased their price target on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday. Scotiabank lowered Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a report on Friday, April 11th. Susquehanna decreased their price target on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Finally, Citigroup reduced their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $54.05.

Read Our Latest Stock Analysis on Occidental Petroleum

Occidental Petroleum Trading Up 2.0 %

• Occidental’s Hidden Gem: How OxyChem Could Boost Profits

Shares of OXY stock traded up $0.81 during trading hours on Friday, hitting $42.25. 11,639,849 shares of the company's stock traded hands, compared to its average volume of 11,038,193. The stock has a market cap of $39.71 billion, a PE ratio of 17.32 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Occidental Petroleum has a 12 month low of $34.79 and a 12 month high of $64.76. The stock's 50 day simple moving average is $43.05 and its 200 day simple moving average is $47.32.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same period in the prior year, the company posted $0.63 earnings per share. Occidental Petroleum's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current year.

Hedge Funds Weigh In On Occidental Petroleum

• Occidental Petroleum: Unpacking Its Onshore Oil & Gas Strength

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of Occidental Petroleum by 7.1% during the third quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer's stock valued at $39,880,000 after purchasing an additional 51,042 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Occidental Petroleum by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 77,080 shares of the oil and gas producer's stock worth $3,973,000 after acquiring an additional 926 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Occidental Petroleum by 5.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 23,368 shares of the oil and gas producer's stock worth $1,155,000 after purchasing an additional 1,274 shares during the period. Czech National Bank grew its stake in shares of Occidental Petroleum by 6.8% during the 4th quarter. Czech National Bank now owns 146,485 shares of the oil and gas producer's stock valued at $7,238,000 after acquiring an additional 9,322 shares during the period. Finally, Brookstone Capital Management increased its stake in shares of Occidental Petroleum by 13.3% in the fourth quarter. Brookstone Capital Management now owns 11,630 shares of the oil and gas producer's stock worth $575,000 after purchasing an additional 1,367 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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